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Fixed Assets
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| Property, Plant and Equipment [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant and Equipment Disclosure [Text Block] |
NOTE E – Fixed Assets
Fixed assets, summarized by major category, consist of the following ($ in thousands) for the year ended:
In January 2014, the company entered a 24-month capital lease for lab equipment which has a buyout option of $ 1 at end of lease. This lease was capitalized. The payments under the lease will be accounted for as interest and payments under capital lease using 2-year amortization. Interest expense of $1,379 associated with the lease payments was recognized in the year ended December 31, 2014 to reflect 9 months of interest. Depreciation expense of $9,258 was recorded in the year. |
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